Economic and Real-Estate Indicators Num. 48

Here is the 48th issue of our GIX Report where we share the reality of the Spanish economy and real-estate sector every month.

At the end of October, the INE published the advance data for the Quarterly Accounts corresponding to the third quarter of 2024, where the quarter-on-quarter variation advanced by 0.8%, supporting a year-on-year growth for the year 2024 of around 3.0%, compared with the 2.8% predicted previously.

It should be noted that public spending was the driving force behind this growth with a quarterly figure of 2.2%, a figure that exceeds any record of the last 20 years. Growth on the private consumption side has not been as favourable, although it increased by 1.1%. Investment is not taking off and foreign demand has remained at the same rate as the previous quarter.

Inflation seems to be slowing down each month, although we will have to wait for the full year’s data to see the trend, especially the underlying rate. A favourable consequence is that interest rates will continue to fall if the favourable conditions at the European level continue.

As for the real estate sector, it continues to show data and leading indicators with not much intensity and very weak increases.

The +50 real-estate economic indicators analysed include:

• GDP
• Consumer Spending
• Capital Investment
• Exports
• Imports
• Industry
• Investment in Construction
• Investment in Housing
• Investment in Other Buildings and Constructions
• Other

• Unemployment in Construction
• Housing Stock
• New Build Stock
• Appraised Value of Unsubsidised Housing (€/m2)
• Land Sales
• House Sales
• Yearly Theoretical Effort for Housing Affordability (years)
• Houses Started
• Gross Return on Public Procurement Rentals
• Other

Download below the Gix Report for November 2024 and find out the details and trends in economic data and the building and real-estate sector. You can also see the previous GIX Reports